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1. What happened to the fed funds rate during the recent financial crisis?
1. What happened to the fed funds rate during the recent financial crisis? (Use specific numbers)Support your narrative with the following metrics:Total Equity / Total Assets (EQTA) and Effective Fed Funds Rate
2. The following website contains information on reserves deposited at the Fed.http://federalreserve.gov/releases/h3/2008.htmThe November 6threlease contains 2 week reports of reserves through September and October of2008. How did banks react to the Fed paying interest on reserves?
3. If you were a bank manager with only the information available at the time, what would you dodifferently (relative to normal times) in response to the Fed’s actions in September and October of2008?
4. Explain how time‐inconsistency affects the ways in which a central bank can discourage moralhazard.